X1 Michigan Tower 1 is a new residential development in MediaCity UK Manchester consisting of 375 apartments and a selection of townhouses. Properties range from 1, 2 and 3 bedrooms.

X1 Michigan Tower 1 has a targeted completion of Q4 2023.​

Investors who purchase apartments in X1 Michigan Tower 1 will benefit from a 2 year net rental guarantee at 6% during which no service charge, no ground rent and no letting management fees are payable.

A free furniture pack (worth £2995 for 1 bed, £3995 for 2 beds and £4995 for 3 beds) is available for X1 Michigan Tower 1 buyers.​

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LIMITED AVAILABILITY

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Prices: 

• 1 bedroom apartments from £175,995 (Walkthrough of show apartment)

• 2 bedroom apartments from £216,995 (Walkthrough of show apartment)

• 3 bedroom apartments from £276,995 (Walkthrough of show apartment)

• 2 bedroom townhouses from £299,995 (Walkthrough of show home)

• Mortgages available - subject to status.

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Payment Terms: 

• £5,000 to reserve.

• 25% of the purchase price (less reservation deposit) are payable within 21 days on exchange of contract.

• 10% of the purchase price are payable 6 months after exchange of contract.

• Remaining balance payable on completion. 

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X1 Michigan Towers Investment Opportunity:

• Exclusive Luxury in a Desirable Location.

• Manchester – the heart of the Northern Powerhouse.

• A leading buy–to-let destination.

• Capital Growth for Residential Property in Manchester.

• Rental Growth Projections.

• Manchester Population & Employment.

• The time is now for MediaCity UK.

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Introducing X1 Michigan Towers:

X1 Michigan Towers With the expansion set for MediaCityUK’s phase 2, X1 Michigan Towers is an opportunity to support expansion within the ecosystem along with facilitating the growth of the second biggest economy outside of London.

Set across four towers, each building will contribute to a total of 1314 new apartments across a mix of 1 2 and 3 bedroom apartments along with stylish town houses.

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Facilities and Amenities: 

• Onsite gym

• Exclusive residents cinema room

• Management office

• Security

• Bike store

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Exclusive Luxury in a Desirable Location:

As one of the most sought after destinations to live in Manchester, Salford Quays attracts both young families and working professionals alike looking to live, work and play in MediaCityUK. Apartments in Media City provide investors with lucrative investment opportunities which unlock the potential for impressive capital gains, whilst residents can take advantage of all amenities within the area.

With an exciting mix of bars, restaurants and shopping, MediaCityUK offers residents the perfect lifestyle balance with the opportunity to commute to wider Manchester on the doorstep. Not only does MediaCityUK provide residents with green space that simply cannot be find in the City Centre, but travel links mean you can reach towns such as Altrincham and Bury in a matter of minutes.

Investors in X1 Media City Tower 1 can now see like for like units selling for up to 44% increase from what they paid.

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About MediaCityUK:

Over the past 10 years, MediaCityUK has transformed from what once was a derelict piece of land into a vibrant community which plays home to some 8000 residents who live, work and study at the digital hub of the North West.

Located at Salford Quays, MediaCityUK is recognised as one of the worlds biggest media brands with an exciting mix of 250 businesses calling it home and the University of Salford amongst its key residents.

Thanks to MediaCityUK & it’s investment, Salford has seen the creation of thousands of jobs and homes as part of the project, with more investment and upgrades to infrastructure on the way.

Following on from the successful delivery of Phase 1, work has been approved to begin on Phase 2 of MediaCityUK, which is set to include an additional 1800 resident units along with a further £1bn investment to continue to develop the area.

 

Phase 2 will also deliver over 55,000 m2 of additional office space, retail and leisure uses as well as a sequence of new public spaces.

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• 2007 Construction at MediaCityUK begins

• 2010 Initial infrastructure is completed

• 2011 The BBC begins its move of 3200 staff into three new buildings

• 2013 ITV completes its move of 700 staff from Manchester City Centre

• 2016 Final building of phase one is completed

• 2018 Bupa completes new flagship headquarters

• 2019 MediaCityUK is recognised as one of the UK’s best green spaces

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X1 & MediaCityUK:

Phase 1:

X1 Media City development consists of 4 x 26 storey iconic towers in the heart of MediaCityUK being delivered in partnership with Peel L&P.

Tower A & Tower B are live and tenanted with the final two towers due for completion in Q2 2022 and Q4 2023.

The final two towers will act as a response to the inherent need for accommodation within the area and deliver 1100 apartments in total.

At present, occupancy at X1 Media City is consistently at 98% and high rental demand within the area.

Overall, the first phase of X1 Media City comprises 54,000 sqft of residential and commercial space with across a stylish mix of 1, 2 and 3 bedroom apartments.

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Location:

• Old Trafford 2.9 miles

• Etihad Stadium 5 miles

• University of Salford 9 miles

• University of Salford MediaCityUK Campus 0.2 miles

• University of Manchester 3.8 miles

• Manchester Metropolitan University 3.2 miles

• The University of Bolton 12.5 miles

• University Academy 92 2.6 miles

• Manchester Airport 12.3 miles

• The Trafford Centre 3.9 miles

• Piccadilly Station 3.9 miles

• Spinningfields 2.9 miles

• The Northern Quarter 3.9 miles

• Ancoat s 5.2 miles

• Deansgate 3 miles

• Castlefield 2.8 miles

• The Arndale Centre 4 miles

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Manchester – the heart of the Northern Powerhouse:

In a cluster of cities that includes Leeds, Liverpool, Sheffield and Newcastle, Manchester is at the heart of the Northern Powerhouse initiative – a collection of Cities which together form an economy of over £350 billion.

The Northern Powerhouse plays home to some 10.7 million people, 25% of who live in the Manchester City Region.

As one of the North Wests forward thinkers, Manchester is leading the way in economic growth when it comes to investing in skills, transport, culture and ultimately unlocking its huge economic potential.

Between 2015 and 2020, the government pledged to spend over £13billion improving northern transport and infrastructure.

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On 24th March 2020, The Trafford Park Line Tram extension opened seven months ahead of schedule. The £350million Metrolink extension, which has added an additional 3.4 miles covered opens up Manchester even further for residents.

The Government initiative does not just stop at infrastructural improvements – it focuses on the creation of a highly skilled and improved workforce, which is vital for any economy. It concentrates on Cities, regions and smaller towns and their own economic growth in order to contribute directly to the growth of the North.

Since it’s introduction in 2014, the economy grew by 10.7% - which is marginally higher than the rest of the UK and employment in the North grew by 6.9% (National Average in the same period was 6.2%).

With more business moving to Manchester, it is expected that the City will see around 3100 jobs created year on year until 2034.

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A leading buy–to-let destination:

With the population continuing its upward growth, Manchester City Council has predicted that the population will exceed three million by 2030 – with Manchester’s population in particular to top half a million.

Further insights from Manchester City Council demonstrate that the city centre is experiencing population growth 15 times faster than the rate at which new homes are being built.

Research from Savills has shown that although there are 7000 new homes in the pipeline for Manchester over the next two years, to meet housing needs, a further 11,254 would need to be delivered per year to keep up with demand.

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Residential property values in Manchester have risen 5.1% year on year in the last 12 months according to the latest data from Zoopla and Hometrack confirms that Manchester remains the fastest growing City. By 2022, it is predicted that house prices will grow by 15.3% and rents will rise by 13.6%.

Research from Knight Frank has confirmed the above through its indication that rental income looks to continue its growth with an overall rise of 14% by 2022.

The same research continues with its predictions with regards to the private rented sector announcing that 25% of all households in the UK will rent privately by the end of 2021.

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Capital Growth for residential property in Manchester:

Manchester outpaces all other UK Cities when it comes to economic growth.

The density of Manchester’s population is 11, 449 per square mile - making it one of the fastest growing cities in the UK.

By 2035, it is predicted there will be a population of some 3,028,104 residents.

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Research from leading property portal Zoopla has underlined that between 2018 and 2019 residential property values have risen 5.1% and Manchester remains the fastest growing city, outpacing all other cities in the UK.

With this research, it is possible to predict capital growth over the next ten years should the increase stay the same or with marginal fluctuations.

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Rental Growth Projections:

Across the industry, a typical rent increase sits between 3-5% annually and this would be at the end of the fixed term tenancy.

At X1, rents are set in line with the current market rate achievable and increase accordingly.

At X1, the aim is to increase rents 5% year on year in order to maximise income for Landlords.

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Manchester Population & Employment:

At present, the population of Manchester continues to grow nearly 15 times faster than properties are being built. In short, population growth is outpacing supply.

Between 2015 and 2016, only 290 homes were built in Manchester City Centre, meaning that Manchester’s housing grew by just 0.13% in the same period of time. In the period prior, the citys population increased by more than 10,000.

Research from Savills has shown that although there are 7000 new homes in the pipeline for Manchester over the next two years, a further 11, 254 would need to be delivered per year in order to meet demand.

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Furthermore, research has shown that between 1996 and 2016, some 85,000 jobs were created, with an additional 65,000 expected by 2036.

In Q4 2019, Huawei - one of the leading global providers of ICT - selected MediaCity as it’s new office location , a move which is considered a major boost to the Northern Powerhouse Tech Economy.

The DigitalTech Industry alone turned over £4.98 billion in 2018 and Manchester holds the largest number of workers in this sector second only to London, with MediaCity UK alreading securing its position as the leading creative and technological hub in the UK.

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The time is now for MediaCityUK:

With MediaCityUK primed for a period of major growth, Manchester has led the way in house price growth for the last 6 years, with the upward trend set to continue until 2028.

In addition to this, research from Savills has demonstrated that house prices in the North West of England are set to continue their growth for the next 5 years.

Already home to more than 250 businesses, the redevelopment of MediaCityUK has catapulted Manchester and Salford to leading the way for investment and capital gains in the UK.

The first phase of MediaCityUK is already well established as the leading urban regeneration project in the UK and the future is bright for Phase 2 as it signals the start of the next step on the journey.

 

When the University of Salford moved its campus in to the area, the market saw a swelling in student numbers and retention of young professionals as they look to further their professional career in the digital hub of the North West.

The City region has over 100,000 students in total across five Universities, giving Manchester one of the largest student populations in the UK.

Over half of the students from Manchester choose to remain in the City after graduation whilst an even larger amount of students (57%) return after moving away to study in other cities.

The sheer volume of students who remain in Manchester underpins its economic growth as it remains the second most popular city for new graduates.

Salford has already seen the creation of thousands of jobs and homes as part of the MediaCityUK project, with more investment and upgrades to infrastructure on their way.

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The development of Port Salford – the UK’s first tri-modal inland waterway port will link Greater Manchester to new international trading routes, again facilitating further growth to the area.

In addition to this, the potential arrival of HS2 in to Manchester Piccadilly could bring with it 40,000 jobs, along with 8.8sqft of commercial development whilst Manchester airport is undergoing a £1bn transformation project which will see an increase in the size of Terminal 2 including enhancement works.

 

With so much investment earmarked for the area, Manchester’s growth will be supported by infrastructural improvements, delivery of housing and a highly skilled workforce.

Investors in X1 MediaCity have taken advantage of properties which are priced below market value and seen great potential for capital appreciation. Investors in X1 Media City Tower 1 can now see like for like units selling for up to 44% increase from what they paid.

 

The transformation of the former dockland is incredible and the potential at MediaCityUK remains uncapped.